Question
a.
A reinsurance cover that limits the aggregate amount of loss the reinsured would lose on a given class of business in an annual period.
b.
A reinsurance cover that indemnifies the reinsured for an aggregate (cumulative) amount of losses in excess of a specified aggregate amount.
c.
A reinsurance cover that protects the reinsured's whole book of business, incorporating all classes of business.
d.
None of the above.
Posted under IC85 Reinsurance Management
Interact with the Community - Share Your Thoughts
Uncertain About the Answer? Seek Clarification Here.
Understand the Explanation? Include it Here.
Q. What is Whole Account Excess of Loss cover?
Similar Questions
Explore Relevant Multiple Choice Questions (MCQs)
Q. ABC insurer wants to protect his whole book of business. Hence he enters into an arrangement where a single composite cover is installed for protection of its whole business, incorporating all classes of business. This arrangement is known as __________________.
View solution
Q. In non-proportional treaty, how can the reinsured split and structure their total XL requirement?
View solution
Q. What is co-insurance in excess of loss cover?
View solution
Q. What is co-insurance in excess of loss cover?What is the definition of ultimate net loss in non-proportional reinsurance?
View solution
Q. What costs are included in the calculation of ultimate net loss in non-proportional reinsurance?
View solution
Q. Which of the following is an important consideration when setting the reinsured's retention for the excess of loss cover in non-proportional reinsurance?
View solution
Q. What is ultimate net loss in non-proportional reinsurance?
View solution
Q. What is one of the most difficult decisions the reinsured has to make in non-proportional reinsurance?
View solution
Q. What is Mindip in non-proportional reinsurance?
View solution
Q. What is ultimate net loss?
View solution
Q. What types of expenditure are included in the calculation of ultimate net loss?
View solution
Q. What is the ideal level of retention for excess of loss cover?
View solution
Q. What is the difference between retention per risk and retention per event?
View solution
Q. What is the main intention behind the calculation of a suitable rate for a reinsurer?
View solution
Q. What are the factors that affect the rate for excess of loss covers?
View solution
Q. How does the retention of the reinsured affect the rate for excess of loss covers?
View solution
Q. How does the range of insurance business covered affect the rate for excess of loss covers?
View solution
Q. What are the types of risk insured and the size of the sum insured that affect the rate for excess of loss covers?
View solution
Q. How does the lower retention of the reinsured affect the rate?
View solution
Q. How does the range of insurance business covered affect the rate?
View solution
Recommended Subjects
Are you eager to expand your knowledge beyond IC85 Reinsurance Management? We've handpicked a range of related categories that you might find intriguing.
Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!
